Global Hemp-Based Foods Market 2016-2020
Our team recognizes the following companies as the key players in the global hemp-based foods market: Hempco, Manitoba Harvest Hemp Foods, Mettrum Originals, and Naturally Splendid.
Other Prominent Vendors in the market are: Braham and Murray, Canada Hemp Foods, Elixinol, Healthy Brands Collective, Hemp Foods Australia, Laguna Blends, Nutiva, and The Cool Hemp Company.
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Commenting on the report, an analyst from our team said: “Customers prefer to shop online and pay for their orders using their credit or debit cards, which helps them avoid time-consuming journeys and billing queues. Online shopping portals now also provide improved security features for payments and efficient customer service, along with customer-friendly website designs that offer enhanced product visibility. This is a key trend for market growth and is encouraging various hemp-based food manufacturers to focus on the internet-savvy customer segment and venture into the new online retail format. This mode of business will help vendors save operating costs and overheads, which are lower in the online retail format than in the physical store format.”
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According to the report, emergence of hemp as a superfood will be a key driver for market growth. Hemp is free from allergens, gluten, genetically modified organism (GMO), lactose, soy, phytoestrogen, and pesticides. Hemp, as an ingredient, is now being used in nutrition bars, tortilla chips, pretzels, beer, salad dressings, cheese, and ice cream. The market potential for hemp-based foods emerging as superfoods is based on its blending capacity in terms of taste and functionality with other common food ingredients.
Further, the report states that low awareness rate will be a challenge for the market. The lack of awareness among consumers globally about the health benefits of hemp as an ingredient restricts its use in various food and beverages by the manufacturers. The major reason for the low rate of awareness is the lack of adequate scientific evidence to prove the benefits of these ingredients, which in turn restricts the marketing initiatives of the manufacturers. As a result, most manufacturers shy away from using hemp as an ingredient in their food products.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- https://marketreportscenter.com/reports/383345/global-hemp-based-foods-market-2016-2020
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